476 Grove St

Pringle, PA 18704

$150,000D+

2 bd · 3.0 ba · 704 sqft · Built 1940 · SingleFamily · Pending

Cashflow @ list (25.0% down · 7.5%)

• Estimated rent: $1,305/mo
• Mortgage (P&I): −$787
• Tax + insurance: −$146
• HOA: −$0
• Vac / Maint / Mgmt: −$274
• Net cashflow: $98/mo
• Annual: $1,179/yr
• Cap rate: 7.08%
• Cash-on-cash: 2.81%
• DSCR: 1.12
• 1% rule: 0.87%
• Cash to close: $42,000

Investor read

• This is a 2-bed/3.0-bath single-family listed at $150k.
• At list price, monthly cash flow is $98 ($1k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• To meet the 1% rule (rent ≥ 1% of price), the offer needs to be $130k (13.0% below list).
• Only 0 days on market — expect competitive offers; lowballing is unlikely to land.
• Recommended offer: $130k (13.0% below list) — sets the bar for 1% rule.
• Local home prices are declining (-3.0%/yr); year-one equity from $1k of loan paydown is wiped out by about $4k of value loss. Plan a longer hold.
• Location reads 77/100 on livability (#337 in PA, #2,954 nationally) — a middle-class / working-renter tenant base. Strengths: cost of living A+, housing A+, health & safety A+; Watch: employment D+, commute F.
• Wyoming Valley West SD (suburban): math 18% / reading 42% proficiency, ranked #445 of 539 in PA (top 83%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases.
• Zoned schools: State El Ctr (math 8% / reading 32%, grade F, #1,248 of 1,518 statewide, top 83%, 1,353 students, 100% FRL); Wyoming Valley West Ms (math 13% / reading 41%, grade F, #404 of 512 statewide, top 80%, 1,191 students, 100% FRL); Wyoming Valley West Shs (math 57% / reading 24%, grade F, #255 of 437 statewide, top 60%, 1,357 students, 100% FRL) — zoned schools average 100% FRL vs 56% district-wide (44 pts higher); higher-poverty schools than district average — tighter screening recommended.
• Watch-outs: built in 1940 — expect roof / HVAC / electrical / plumbing capex.
• Market conditions: Rents rising fast (+4.7%/yr); 134 active listings in the ZIP; 6 comparable units currently listed for rent nearby; rentals at typical pace (median 23d on market — plan ~3-4 weeks tenant-placement turnaround); 349 units permitted in Luzerne County in 2024 (16 in 5+ unit buildings).
• Luzerne County population projected at +4% by 2050 — modest demand growth; plan on rents tracking national, not racing it.
• Current owner paid $27k; list at $150k implies a 456% gain — meaningful room to come down on a strong offer.

Questions for listing agent

• Built in 1940 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
• Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
• Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
• The area grade is low — what's the realistic commute time and amenity access for the typical tenant pool here? Any planned neighborhood developments (good or bad) we should know about?
• What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
• What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
• How much new for-sale + rental construction is in the pipeline within 1–3 miles? Heavy new supply typically softens prices + rents 12–24 months out; constrained supply supports both.